Pune, India, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Clinical trial imaging is a key asset in the drug development process as it offers efficacy evaluation and safety monitoring data required for regulatory submission. Additionally, imaging offers insights into the drug’s mechanism of action (MOA) and effects that assist researchers in making scientific decisions. For example, in late-phase trials, medical imaging can be utilized as an imaging biomarker to improve clinical trial efficacy and reduce the time to complete a given trial.
According to our new research study on “Clinical Trial Imaging Market Forecast to 2028 - Global Analysis By Modality [Tomography, Magnetic Resonance Imaging (MRI), Ultrasound, Positron Emission Tomography (PET), X-Ray, Echocardiography, and Others], Offering (Operational Imaging Services, Imaging Software, Read Analysis Services, Trial Design and Consulting Services, and Others), and End User [Contract Research Organizations (CROs), Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Others],” the clinical trial imaging market size to grow from $1.61 billion in 2022 to $2.48 billion by 2028; the market is estimated to record a CAGR of 7.6% from 2023 to 2028.
Download Sample PDF Brochure: https://www.theinsightpartners.com/sample/TIPHE100001201
Global Clinical Trial Imaging Market: Competitive Landscape and Key Developments
eResearch Technology Inc, Calyx Inc, ICON PLC, VIDA Diagnostics Inc, WCG Clinical Inc, BioTelemetry Inc, Medical Metrics Inc, Medpace Holdings Inc, Radiant Sage LLC, and IXICO plc are a few of the key companies operating in the clinical trial imaging market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name. A few of the recent developments in the global clinical trial imaging market are mentioned below:
In March 2023, Clario, a healthcare research technology company that delivers leading endpoint technology solutions for clinical trials, announced a partnership with Strados Labs to provide the FDA-approved RESP Biosensor for clinical trials. This innovative, wearable device is lightweight, comfortable, and noninvasive, with novel capabilities such as objective assessment of crackles, rhonchi, and wheeze events, as well as a streamlined approach for at-home cough monitoring in study subjects.
In December 2022, GLO Healthcare (GLO), an expanding healthcare platform created by CapVest Partners LLP (CapVest), completed the acquisition of Calyx, a leading provider of mission-critical software and tech-enabled services to the fast-growing clinical research market.
In July 2021, WCG announced the acquisition of Intrinsic Imaging, a leading global provider of core lab medical imaging services.
Spur in Number of CROs Offering Medical Imaging Services Drives Global Clinical Trial Imaging Market Growth:
Clinical research organizations (CROs) assist in the successful implementation of clinical trials through the services offered using high-quality facilities and deep subject matter expertise. CROs have begun acting as a backbone of the clinical trial industry through their efficient and cost-effective operations that benefit trial sponsors. For example, on average, CROs take 30% lesser time than in-house activity to conduct and complete clinical trials.
With the rising number of CROs leading to high competition, some of these businesses offer specialized imaging services, thus emerging as imaging CROs (iCROs). Keosys Medical Imaging and Medica Group PLC are popular examples of iCROs. The total number of clinical trials has doubled since 2010, and the use of imaging modalities in these trials has increased by almost 500%. Per a report by KEOSYS MEDICAL IMAGING company, iCROs allocate 7.5–10% of their budgets for imaging, which helps them optimize their workflow to manage every step of the process from image acquisition to interpretation. These CROs offer key knowledge insights in areas such as site qualification for imaging, acquisition of standardized images, and determination of read designs and criteria, thereby contributing to the growth of the overall clinical trial imaging market.
Order a Copy of this Report at https://www.theinsightpartners.com/buy/TIPHE100001201
Go through further research published by The Insight Partners:
Clinical Trials Market - Global Analysis and Forecast to 2028
Clinical Trials Supplies Market - Global Analysis and Forecast to 2027
Clinical Trial Management System Market - Global Analysis and Forecast to 2030
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/clinical-trial-imaging-market
